Arthur B. Kagan, FSA, EA, is one of the most qualified Actuaries and Pension Plan consultants in the country. In his over 40 year career, he has helped thousands of plan sponsors with the management of their company’s retirement plans, as well as hundreds of thousands of plan participants with their pension benefits.
Mr. Kagan served as the President and sole owner of a third party administration (TPA) and actuarial consulting firm for 26 years serving 650 plans; Previously, he was president and partner of aTPA and actuarial firm serving 1400 plans. He is fully credentialed in actuarial valuations, plan funding, and present value calculations:
Mr. Kagan serves large, mid-size, and small plans covering all industries and all employer types. He specialize in all aspects of:
Mr. Kagan has presented many seminars on recent developments in pension plan industry and creative plan design to the Desert Estate Planning Council, California CPA Society, AXA Advisors, and various financial advisory and CPA firms. He has also presented seminars on Life Insurance in Qualified Retirement Plans to Financial Planning Association of Los Angeles.
MCS Associates is a nationally recognized consulting group that has provided financial, operations and regulatory/compliance consulting services nationwide to financial institutions, insurance companies and regulatory agencies as well as real estate and financial services organizations for over 40 years. Expert Witness and Litigation Consulting are a primary focus of our services. We undertake expert witness assignments throughout the United States and our clients include several hundred leading law firms around the country, working on behalf of both plaintiff and defendant financial institutions, borrowers, depositors, investors, developers, insurance companies and their insured, securities/insurance/real estate brokers/agents, regulators and government agencies, and individuals.
Together with MCS Associates’ specialized resources in banking, financial services and real estate, we also draw on key strategic alliances in insurance, economics, academia and the securities industry to meet a wide range of expert witness needs. Our litigation experts include experienced bankers, lenders, consultants, regulators, managers, brokers & agents in insurance, real estate, and securities; insurance claims and underwriting managers; economists, accountants, appraisers, real estate analysts, and academics.
Bob Lawson, AIF®, CFE®, MRFC®, LUTCF®, is a Securities & FINRA Expert Witness retained for FINRA arbitration, mediation, and federal/civil court litigation. Mr. Lawson possesses over 35 years of experience within the securities and insurance industries. In 1988, Mr. Lawson founded Barrington Capital Management, Inc., a Registered Investment Advisory firm and Insurance Agency, and currently serves as the Managing Principal of Barrington Financial Consulting Group, Inc, a 12-person Securities Litigation and Consulting Expert firm.
In addition, Mr. Lawson serves as a FINRA Mediator and presides as a FINRA & NFA Dispute Resolution Chairman for disputes concerning investors, financial services professionals, broker-dealers, and dually-registered investment advisers. Claims often arise regarding breach of fiduciary duties, securities fraud, employment disputes, conflicts of interest, churning, unsuitable investments, and failure to supervise, among others. Mr. Lawson also serves as a public mediator and is a Qualified Neutral under Minnesota Rule 114 of Standard Practice in Mediation and Arbitration. His breadth of experience includes managing and supervising FINRA broker-dealer branch offices as a Registered Securities Principal, Options Principal, and Chief Compliance Officer.
Mr. Lawson also has considerable experience with insurance products including variable annuities, fixed and indexed annuities, long term care, and life insurance. Mr. Lawson possesses numerous accolades and is an Accredited Investment Fiduciary (AIF®), Certified Fraud Examiner (CFE®), Master Registered Financial Consultant (MRFC), and a Life Underwriter Training Council Fellow (LUTCF®).
Retaining Mr. Lawson as an Expert Witness and Litigation Consultant will clarify and address relevant issues pertaining to your case from an insider's point of view. Upon a thorough examination and analysis of the case material, Mr. Lawson’s conclusions and opinions are impartial, objective, and predicated upon years of industry expertise and experience. Expert testimony and reports are supported by thorough and detailed research through case-specific analysis.
Bob is active in the following organizations: Vice-Chairman - Master Registered Financial Consultants | Mentorship and Practice Management Chair - Securities Experts Roundtable | Twin Cities Certified Fraud Examiners Association, Membership Chair - Minnesota State Bar Association ADR Section
In the securities brokerage industry, "selling-away" refers to the prohibited practice of an Associated Person effecting or soliciting the sale of securities or investment products not held or approved with whom the broker is affiliated without prior written consent. FINRA regulators have seen a steady flow of selling-away cases over the years involving registered representatives who are being targeted by issuers, promoters and marketing agents to sell their nontraditional investment products to their retail customers. In many instances, promoters of these products are marketing them as non-securities products that do not have to be sold through a broker-dealer by a registered person. In a significant number of cases, associated persons have sold these investments to their customers away from the broker-dealer and without firm approval as required by FINRA Rule 3270. Selling-away often occurs in an independent branch or a satellite office, where Associated Persons are removed from the day-to-day oversight and supervision of their brokerage firm's compliance department.
I receive phone calls throughout the year from attorneys who have taken on their first FINRA case and they frequently are unaware how the FINRA Dispute Resolution process differs from other venues. I thought it would be helpful to provide a quick overview for new participants and a refresher for those more experienced securities attorneys on how the FINRA Arbitration and Mediation process works.
In FINRA-related cases many attorneys see discovery requests objected to by opposing counsel. Typically, opposing counsel objects to discovery requests citing that items requested are either "overly broad, vague, or ambiguous", or "impermissible per FINRA's Code of Arbitration Procedure". However, despite opposing counsel's reasoning, many objections to discovery requests are irrelevant and do not hold up in regard to FINRA's Code of Arbitration Procedure. Attorneys should not be intimidated or discouraged by these objections, but rather should understand that FINRA's guidelines concerning arbitration allow for most applicable and reasonably obtainable discovery information to be delivered.
Bryan L. Parker, CPA/PFS, CFP, CLU, ChFC, CASL, FCPA, is a Certified Forensic Accountant with over 30 years of experience in his field.
Background - Prior to founding Bryan L. Parker, CPA, LLC, Mr. Parker held the position of CFO at McPherson Oil Company ($300 million + annual revenues) where he was responsible for advising and negotiating banking relationships, acquisition review, acquisition integration, financial reporting, and interaction with external auditors. His experience also includes serving as VP of Mergers & Acquisitions for Citation Corporation (Public Co.) and CFO of TIC United Corp., Dallas, TX ($300 million + revenues).
Mr. Parker has performed business valuations for more than 100 businesses in a variety of industries including manufacturing, trucking, printing, fuel oil distribution, motor/lubricating oil distribution, professional services, restaurants, fast food franchises, metal foundry, metal forge, machining, and plastic injection molding.
Litigation Support - Mr. Parker provides expert witness services to attorneys representing both plaintiff and defendant. He offers Forensic Accounting services, written reports, deposition, and trial testimony as needed.
Frank Carr has extensive background and experience as an Investment Industry Employment and Compensation Expert Witness, especially Investment Management Firms, Mutual Funds, Hedge Funds, Wealth Managers, and Broker-Dealers. Mr. Carr is a former corporate banker, investment firm Chief Financial Officer and a 20 year veteran of executive search for the Investment Management industry. He has written articles for and has been frequently quoted by publications such as Bloomberg News, CNN Money, Fund Fire, Ignites, Absolute Return, Hedge Fund Alert, and Hedge Fund Manager Week. Prior to entering the executive search field, he was the Chief Financial Officer of a Connecticut-based hedge fund and Commodity Trading Advisor (CTA). Mr. Carr started his career in commercial bank lending, initially with Citigroup in their Wall Street Commodities division and later specialized in financing independent feature film producers, TV producers, and television station owners on behalf of European American Bank in New York.
Litigation Support - Frank Carr is an Investment Industry Employment and Compensation Expert Witness who has been retained by both plaintiffs and defendants for American Arbitration Association, JAMS and FINRA arbitration, mediation, and federal court litigation. Mr. Carr has over 30 years of experience in Financial Services, Investment Management, and Banking and his areas of coverage include Traditional and Alternative Investments – Equities, Fixed Income, Mutual Funds, Hedge Funds, Private Equity, and Managed Futures. Specialist in Wall Street Divorce.
Areas of Expertise:
Employment and Hiring Practices
Institutional Asset Management
Broker / Dealers
Retail Financial Advisory
Sales Process for Investment Products
Prior Expert Witness Assignments:
Represented a hedge fund portfolio manager as an expert rebuttal witness in a high profile hedge fund employment/compensation lawsuit. Prepared a rebuttal opinion letter submitted to the United States District Court for the Southern District of New York.
Represented a $12 billion Texas-based SEC Registered Investment Adviser and leading global alternative credit manager in a JAMS arbitration regarding a terminated employee. Prepared a rebuttal expert witness report and provided live testimony at the JAMS arbitration hearing.
Represented a financial advisor in a FINRA arbitration against one of the top 5 U.S. wealth management firms. The scope of the opinion included projected career advancement, compensation analysis and calculation of lost earnings.
Represented a portfolio manager/ investment analyst in a wrongful termination action against one of the largest U.S. Broker-Dealers with over $600 billion in assets. The scope of the opinion included projected career advancement and compensation analysis. Prepared an expert witness report and provided live testimony at the FINRA arbitration hearing.
Education - Mr. Carr is a graduate of Williams College where he received a Bachelor of Arts degree in Political Economy. He completed the Management Training Program at Citigroup in New York, including courses in accounting, finance, and capital markets. He has previously held FINRA licenses, Series 3, 6, and 63 and has completed Level I of the Chartered Alternative Investment Analyst (CAIA) program.
Christopoulos Economics Consulting Group is a full-service expert witness firm, providing highly capable and professional analyses, reports, tables, charts, and credible testimony on Economic Damages and related issues for attorneys throughout California.
By specializing in litigation economics, Christopoulos Economics Consulting Group provides Forensic Analysis and Auditing, Economic Damage Analyses, Statistical Research, and Economic Loss Reports. They have the experience necessary to provide testimonies and produce reports which summarize and present opinions and conclusions in a manner that is clear and easily understood. They are consistently retained by both plaintiff and defense attorneys and are well versed in the calculation of present value past and future economic damages, including the calculation of future medical care costs.
James Christopoulos, JD, MA, the founder of Christopoulos Economics Consulting Group, is an Economist and a Lawyer. His comprehension of complex legal issues combined with his many years of experience as an economist provides his clients with a unique set of abilities when calculating economic losses and communicating those opinions to both judge and jury.
Mr. Christopoulos has testified as an expert witness economist in state and federal courts along with arbitrations, mediations, and depositions and has prepared and presented economic loss calculations for well over 1,000 cases.
Victor Republicano, Jr., CPA, CGMA is an accounting and consulting practitioner, who has provided professional services to business owners, corporate management, lawyers and their clients, since 1977. Mr. Republicano provides assistance in all phases of the litigation process, from strategy sessions early in the dispute, through settlement negotiations, and trial. Among his distinguishing achievements are his CGMA (Chartered Global Management Accountant) designation from the AICPA (American Institute of Certified Public Accountants); Diplomate status from the American Board of Forensic Accounting, and his Fellow status from the American College of Forensic Examiners, in addition to his affiliation with the Association of Certified Fraud Examiners.
Mr. Republicano has extensive experience in providing litigation consulting services and expert testimony in a wide variety of areas. His litigation consulting projects have included damage assessment and analysis, inspection and reconstruction of accounting records, pre-trial preparation, expert testimony, witness preparation, courtroom assistance, and post-trial consultation with counsel. He has served as an expert witness in over 100 cases, including matters in state and federal court, administrative proceedings, and alternative dispute resolution forums.
Mr. Republicano is experienced in small business consulting, accounting and auditing, publicly traded companies, and litigation services. His industry experience includes: Ag-Chem, Construction, Distribution, Financial Institutions, High-Tech, Manufacturing, Network Marketing, Non- Profit Organizations, Professional Services (Architects, Engineers, Law Firms, etc), Securities and Retail. Mr. Republicano has assisted a variety of companies with IPO's, private placements and statutory filings with the Securities and Exchange Commission. He also has provided extensive consultations to entrepreneurs and others and other non-public business owners regarding mergers and acquisitions, inventory control systems, credit and collections management, and property lease analyses.
Litigation and Other Services:
Alternate Dispute Resolution (Mediation, Referee, Special Master)
Damage Calculations and Assessment
White Collar Crime
Investigative Services (accounting, finance, business and trade practices)
Diane L. Damos, PhD, is an international expert with over 40 years of experience involving general Aviation Human Factors issues and Commercial Pilot Hiring. She is a fellow of the Human Factors and Ergonomics Society, the Royal Aeronautical Society, and an associate fellow of the Aerospace Medical Association
As an expert in Aviation Human Factors and as an Aviation Psychologist, Dr. Damos promotes safety in the National Airspace by working to reduce the occurrence and impact of human error in aviation systems and improve human performance. She has been involved with pilot selection since 1970.
Dr. Damos has assisted in the development of computer-based tests of information processing and cognition for pilot selection for both the United States Navy and Air Force. She has consulted with numerous domestic and foreign air carriers and training schools on both ab initio and experienced pilot selection.
Dr. Damos has also been involved with cabin crew staffing. She has conducted studies on both narrow- and wide-body aircraft to determine the number of cabin crew needed to meet an airline’s service standards. Dr. Damos was appointed to the United States National Academy of Sciences/National Research Council Panel of Human Factors in Air Traffic Control Automation.
Litigation Support - Dr. Damos has worked as an expert witness for both plaintiff and defense attorneys. She specializes in calculating lost earnings for professional pilots whose flying careers have ended prematurely. She has also been involved in several mediations involving the staffing and workload of cabin crew.
Those in need of her services include attorneys litigating cases involving the death or disability of young pilots who have not yet begun their career as a Part 121 or Part 135 pilot, the death or loss of license of current Part 121 or Part 135 pilots, and insurance companies involved in compensation for Part 121 or Part 135 pilots.
Aviation Human Factors
Commercial Pilot Lifetime Earnings Model
Commercial Pilot Hiring / Performance Issues
Commercial Pilot Retention
Commercial Pilot Certification
Flight Attendant Standard of Care
A charter aircraft crashed in the mountains, killing all on board. Dr. Damos was asked to review pilots’ training records to determine if training met minimum requirements stipulated by FAA.
A Part 135 pilot recently interviewed unsuccessfully for a position at a regional air carrier was killed in a crash. Dr. Damos was asked to determine the likelihood of pilot being hired by another air carrier and the probable path and timeline of the pilot’s career.
A highly qualified military pilot became disabled before being hired by an air carrier. Dr. Damos determined his likely career path and projected his life-time earnings discounted to present value.
Danny F. Dukes and Associates, LLC is a Forensic Accounting Firm that specializes in expert witness and litigation support services. We have investigated fraud and various financial transactions. We are extremely knowledgeable in all aspects of laws pertaining to banks, financial transactions and lending transactions.
Our founder, Danny F. Dukes, has spent over 30 years in the financial institutions and mortgage industry. Danny understands all aspects of mortgage and financial institution transactions including policies and best practices.
As a consultant, he has assisted community banks with investment management, asset liability management, investment banking, compliance issues, internal audit, bank operations, bank policies, and generally accepted accounting principles. He has assisted in a capital raise for de-novo banks. He has also served as a lead on the selection of data processing solutions and transition teams for mergers and acquisitions.
Donald M. May PhD, CPA, Managing Partner at DMA Economics, LLC, possesses over 30 years of Valuation and Economic Damages experience. He implements a broad range of damage analyses and valuations for clients, including billion-dollar investment funds under SEC investigation as well as multi-national firms involved in intellectual property disputes, consumers in product mislabeling cases, and small to mid-sized businesses involved in complex commercial litigation.
Background Experience - Prior to founding DMA Economics LLC, Dr. May was Managing Director at Berkley Research Group and the Principal in charge of valuation and litigation support services for a regional accounting firm, a Managing Director for PricewaterhouseCoopers, and a professor at the Massachusetts Institute of Technology - Sloan School of Management. He has performed over 200 valuations of closely held businesses across numerous industries for financial reporting and estate planning. Dr. May has been published in several distinguished academic and practitioner journals such as The Journal of Finance, The Quarterly Review of Economics and Finance, Hedge Fund Law Review, and is currently an editorial board member of The Journal of Business Valuation and Economic Loss Analysis.
Litigation Support - Dr. May is a world class expert in the Valuation of Damages. Dr. May has prepared expert reports and testified in federal and state courts as well as AAA, JAMS, and FINRA arbitration hearings, and has also effectively communicated as an expert witness testifier and consultant in several multi-million dollar cases.
Recent Litigation Matters:
Misrepresentations in Leveraged Buyout (“LBO”) Financing Practices
Theft of Trade Secrets, Trade Dress, and Intellectual Property
Food Product Mislabeling
Securities Fraud Under SEC Section 10b-5 and Section 11
Accounting Misstatements in Public and Private Company Acquisitions
Lost Profits and Lost Enterprise Value Associated with Product Defects and Breach of Contract
Mascara falsely labeled as being natural. Label claims “Natural” fibers on mascara are alleged and proven to be false. Class action filed and DMA Economics is tasked with computing aggregate damages to the class who purchased the mascara at a premium because they believed it was natural.
The fund managers were alleged to have violated their fiduciary duty to maintain proper diversification in the fund by allowing one particular security to make up more than 25% of fund value and up to over 40% of fund value by mid-2015.
This article finds evidence consistent with the hypothesis that managers consider personal risk when making decisions that affect firm risk. I find that Chief Executive Officers (CEOs) with more personal wealth vested in firm equity tend to diversify. CEOs who are specialists at the existing technology tend to buy similar technologies. When specialists have many years vested, they tend to diversify, however. Poor performance in the existing lines of business is associated with movements into new lines of business.
Dennis M. Giuffré is an Economist and Professional Engineer in private practice since 1978, and previously with the consulting firms, Allstates Engineering Company and Equitable Environmental Health, Inc.
Background Experience: Prior to a consulting career, Mr. Giuffré engaged in basic subsurface research at Texaco, Inc., corporate planning and development at the Gulf Oil Corporation, process engineering and design at the Petro-Tex Chemical Corporation, and process engineering and economics at the Olin Corporation, among other companies.
Economic Damages Expert Services: Mr. Giuffré provides expert witness services primarily in the area of Economic Damages, and in related economics and technical issues. He has been engaged by both plaintiffs and defendants, and has testified as an expert witness in federal and state courts, and in arbitration and administrative hearings.
Mr. Giuffré has been retained as a damages analyst and expert in insurance claim losses, patent and other intellectual property infringement, trade secrets misappropriation, antitrust, breach of contract, deceptive trade practices, unfair competition, unconstitutional taking, products liability, negligence, breach of fiduciary duty, fraud, defamation, slander, trespass, legal malpractice, and numerous other causes of action pertaining to business entities; as well as in personal injury, wrongful death, medical malpractice, discrimination, retaliatory discharge, class action, and other causes of action pertaining to individuals and households.
Malcolm S. Cohen, PhD, President of Employment Research Corporation, has over 30 years of experience in the field of Economics and Employment specializing in Labor Markets and Statistical Analysis.
Dr. Cohen founded the firm in 1997, after retiring as the Director of the Institute of Labor and Industrial Relations at the University of Michigan, which he directed for 13 years. With a PhD in Economics from the MIT in 1967, his research interests include labor market information, labor turnover, employment forecasting and labor shortages. He has directed several major studies to identify national shortage occupations and measure labor turnover using administrative records.
Dr. Cohen's book, Labor Shortages as America Approaches the Twenty-first Century, was published by the University of Michigan Press. His most recent book, Global Skill Shortages, written with Professor Mahmood A. Zaidi, is published by Edward Elgar Publishing. He has had articles published in a large number of journals, including: Journal of Human Resources, Monthly Labor Review, Journal of Political Economy, Review of Economic Statistics, Journal of Economic Theory, and The American Economic Review.
Litigation Support - Dr. Cohen has either testified or been a consultant in over 1,000 audits or cases and has testified over 150 times. He has also served as an expert to the EEOC and U.S. Department of Labor in discrimination cases, and has directed many research projects sponsored by government agencies.
As the world entered the twenty-first century, global skill shortages in many occupations were evident throughout the world. While these were mitigated by a global recession, there is no generally agreed upon method for measuring these shortages. This book discusses various theories for measurement. Using data collected from 19 developed countries in North and Latin America, Europe, and the Pacific region, the authors explore various aspects of skilled labor shortages, develop a methodology of measuring shortages by occupation, and provide estimates of the likelihood of the occurrence of such shortages.
Predicting labor shortages is of great importance for planning education and training of the nation's present and future labor force. Malcolm Cohen has developed an innovative approach to measuring labor shortages. Originally sponsored by the U.S. Department of Labor, his work is presented here, updated for 1994.
Erin O’Callaghan BS, MA, JD, CRC, NCC, LPC, CLCP, is a Life Care Planner, Vocational Rehabilitation Consultant, and Licensed Attorney with over 15 years of experience as a Rehabilitation Professional.
Ms. O’Callaghan has consistently provided the highest standards of professional ethics while staying current with the needs of modern and complex litigation. Her experience and training gives a unique perspective as a forensic rehabilitation evaluator. She has an in depth understanding of the evidentiary requirements of an expert’s evaluation and conclusion, including the importance of following an accepted methodology in the process and preparation of an opinion.
Ms. O’Callaghan is a member of the International Association of Rehabilitation Professionals, International Academy of Life Care Planners, Michigan Rehabilitation Association, and the Michigan Bar Association. She is also a qualified Vocational Expert by the Social Security Administration.
Erin O’Callaghan has been providing Litigation Support to counsel for Plaintiff and Defense for 15 years. She has provided over 1,000 cost projections and has testified in both Federal and State cases. She has specialized knowledge of the Affordable Care Act, Social Security issues and Medicare Set Asides. Her services include case management, earning capacity evaluations, life care planning and lien disputes.
One of the industry's leading law firm services experts, Michael J. Garibaldi, CPA, ABV, CFF, CGMA, has a strong background providing efficient and affordable solutions to the many complex issues facing the legal profession today.
A Certified Public Accountant licensed by the State of New York, Mr. Garibaldi is Accredited in Business Valuation (ABV), and Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA). He is recognized as a Chartered Global Management Accountant by the Association of International Certified Professional Accountants.
Mr. Garibaldi works closely with law firms and other professional service firms, manufacturing, wholesale/retail, medical, technology, restaurant/hospitality, artists and galleries, construction, and real estate clients where he is responsible for providing accounting, tax planning management consulting services, and financial reporting.
Mr. Garibaldi provides valuation and litigation support services, assisting attorneys and their clients with the financial aspects of a case throughout the litigation process, from contemplation of action through expert witness testimony. He brings an in-depth understanding of the business and technical aspects of valuation, finance and accounting that is required in complex litigation and arbitration cases.
Mr. Garibaldi qualifies as an expert in valuation matters in the Supreme Courts of New York, Nassau, Suffolk, Kings, Richmond, Monmouth, Orange, and Westchester Counties, and has been called upon by the courts to serve as a neutral Expert. As an instructor of the AICPA Certificate of Educational Achievement Program in Business Valuation, Mr. Garibaldi teaches his specialty to other professionals.
Michael Garibaldi is a Candidate Member of the American Society of Appraisers (ASA), Member of the Institute of Business Appraisers (IBA), the Association of Certified Fraud Examiners, the American Society of Appraisers (ASA), the AICPA and the NYSSCPA. He is a past President and former member of the Board of Directors of the NYSSCPA Nassau Chapter, and has held a variety of positions on the Litigation Support Committee of the Nassau County and State Chapters of the NYSSCPA. Mr. Garibaldi has also held a number of positions on other committees and sub-committees within these organizations.
Most lawyers know how big a problem occupational fraud is in corporate America. They may even count as clients companies that have been defrauded and suffered significant losses. Yet a "not at my firm" attitude persists among many partners who take for granted the honesty and integrity of their colleagues and staff.
When a dishonest CFO or controller cooks the books, it can be devastating for the victim organization. In addition to direct financial losses, financial statement frauds erode trust between management and other stakeholders, including lenders, investors and employees who own company stock. Unfortunately, it's common for smaller companies to associate financial misstatement with large public companies that focus heavily on earnings per share.
It may be detrimental to an expert witness's credibility if even the appearance of a lack of independence exists. In today's legal environment, discrediting an expert based on his or her relationship with counsel, the client or the judge is common. Let's examine how to identify an expert's independence.
There are many more purposes for which valuations are used. Each has its unique presumptions. It must be understood that there is no one value and that the same investment can have a different value to different people and for different reasons. Each valuator must analyze such differences, understand the presumptions inherent in the purpose for which the valuation is to be used, and select and implement a method to determine proper value for the purpose.
When a client voiced strong suspicions that her soon-to-be ex-husband was hiding assets, her attorney investigated the claim but found nothing amiss. However, he hired a forensic accounting expert to help ensure his client would receive an equitable share of the marital estate. The expert turned up a trunkload of hidden treasure - undeclared cash income and property "stashed" under the names of the husband's mother and siblings.
Goodwill can be a significant asset for a professional practice. It may include both "personal" goodwill that's attributable to individual owners and "business" goodwill that can be transferred to third parties. When accountants and other types of professionals divorce, the amount of goodwill to include in the marital estate can become contentious (and may vary depending on state law). If expert testimony on the issue is inadequate, a court might look elsewhere for help, as it did in a recent Texas divorce case, Hill v. Hill.